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The Latest Breaking News from LVMH

Novo Nordisk beats LVMH to become Europe’s most valuable company after it takes its ‘miracle’ weight loss drug Wegovy to the U.K.

The Danish pharma giant overtook French luxury conglomerate LVMH as the most valuable European company, which held the title since 2021.

Fortune

Danish pharma group becomes Europe's most valuable firm after UK weight loss drug launch

Danish drugmaker Novo Nordisk is now Europe's largest company in market capitalisation, ahead of French luxury giant LVMH. This follows the UK launch of Wegovy, a weight loss drug that cuts appetite and cravings. Tens of thousands of people have already signed up to waiting lists for the treatment. Also…

France 24

Wegovy maker Novo Nordisk becomes Europe’s most valuable firm

Launch of weight-loss drug in UK helps Danish firm to market value of $428bn

The Guardian - UK

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Millionaire businessman donates €10m to struggling French food charity

Head of the French luxury LVMH empire, Bernard Arnault said he would donate €10 million to Les Restos du Coeur, a charity that provides meals and groceries for those in need. The organisation had earlier warned it may have to turn away some 150,000 people this winter as it struggles…

Radio France Internationale

Cold email landed me my first job at LVMH, says Nespresso’s U.K. CEO

Anna Lundstrom got her first job off the back of an email to Xavier de Royère while she was still a student.

Fortune

Should You Buy the Dip on This Luxury Retail Stock?

LVMH stock just corrected, but the pains could intensify as the typically resilient luxury goods firm feels the heat of a downturn among aspirational consumers.

Barchart

The 'richcession' is real—Unemployment is rising for the 6-figure salary set, BofA data shows

People making $125,000 and more are getting laid off faster than anyone else, in a reversal of the typical recession playbook.

Fortune

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Versace’s new owner wants to be a big beast. But it’s no match for Europe’s behemoths

Tapestry’s purchase of three big fashion names gives it heft. But LVMH and Kering have the front row to themselves

The Guardian - UK

Coach parent buys Versace and Michael Kors owner for $8.5 billion as U.S. big fashion races to catch up with billionaire Bernard Arnault’s European luxury giant LVMH

Tapestry’s acquisition of Capri is a move to wield greater influence in the European-dominated luxury market and mitigate the effects of slowed consumer spending.

Fortune

Coach parent Tapestry buying Capri, owner of Michael Kors and Versace, in $8.5 billion deal

Tapestry, parent company of luxury handbag and accessories retailer Coach, is buying the owner of fashion brands including Michael Kors, Versace and Jimmy Choo, Capri Holdings

The Independent UK

France to bring artisanal know-how to 2024 Olympic Games

With just one year to go, France is getting ready for the summer Olympic games that will begin with an extravagant ceremony scheduled for 26 July 2024. While organisers race to finalise security details, French brands and sponsors are also putting their best foot forward to get their share of…

Radio France Internationale

What you need to know about the massive LVMH deal with the Paris Olympics

The luxury goods company has announced a multi-brand partnership with the XXXIII Games.

The Independent UK

Luxury group LVMH joins top-tier French sponsors of the 2024 Paris Olympics and Paralympics

The world’s biggest luxury group, LVMH Moët Hennessy Louis Vuitton, has announced a sponsorship deal with the 2024 Paris Olympics and Paralympics

The Independent UK

French Stocks Defy Civil Unrest As Luxury Brands Shielded By Global Revenues

Nationwide protests fail to dampen CAC 40 index's best weekly performance since March, thanks to international focus of luxury conglomerates.

Zenger

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Daily Mirror

Tiffany's New York fire: Huge blaze tears through refurbished Fifth Avenue building

Images show smoke billowing from the newly refurbished iconic Tiffany's building in Fifth Avenue, Manhattan New York - fire crews report a 'high voltage electrical fire' in the basement

The Guardian - UK

He’s the world’s richest man. So why do we hear so little from Bernard Arnault?

France does not expect much in the way of philanthropy from its low-profile billionaire class. Perhaps it should, says Alexander Hurst of Sciences Po

The Guardian - UK

Kim Jones draws on Dior’s heritage for new menswear collection

Designer’s fresh aesthetic with nods to the fashion house’s history is proving to be a success

Fortune

The world’s two richest men had lunch in Paris as Elon Musk’s grand tour of Europe continues

Tesla CEO Elon Musk and LVMH CEO Bernard Arnault dined at Cheval Blanc with family members.

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The Guardian - UK

Elon Musk reclaims title of world’s richest person

Maverick head of Tesla and Twitter overtakes French billionaire Bernard Arnault, head of the LVMH luxury goods empire

Fortune

How did Bernard Arnault make his money?

Following Arnault’s buyout of Boussac, the billionaire fired 9,000 people working for the company, sold off most of the group’s assets (except the Dior brand), and earned the nickname “the Terminator.”

Barchart

Watchmaker On Pace To Join Billion-Dollar Club

Swiss luxury watchmaker, TAG Heuer, is growing its sales, under the leadership of Bernard Arnault's son, Frédéric Arnault.

Fortune

World’s richest person sees $11 billion in wealth wiped out

A share price bloodbath massively impacted Bernard Arnault's wallet - but he's still the wealthiest person on the planet.

Los Angeles Times

Beverly Hills voters to decide the fate of ultra-luxury LVMH hotel project

In a city whose name is shorthand for exclusivity and wealth, the future of a planned ultra-opulent hotel will soon be decided by the most democratic of means: an election.

Reuters

LVMH and Stellantis provide donations for Italian flood recovery

Luxury goods group LVMH and carmaker Stellantis have each donated 1 million euros ($1.10 million) to support flood relief efforts in northern Italy, the Emilia-Romagna region said on Monday.

The Week

Alexandre Arnault interview: The Landmark heralds a ‘new era’ for Tiffany & Co.

Via a video call from Paris, Alexandre Arnault details how stages of life are marked by select objects. Often, these objects seem to be jewellery. Arnault had been a “watch guy” for some time when he first added a gold ring – a wedding band, following his and Géraldine Guyot’s…

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